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Global New Material International Holdings Limited ( (HK:6616) ) has issued an announcement.
Global New Material International Holdings Limited announced a significant capital injection into its subsidiary, Chesir Luzhai, by Chongqing International. This transaction will result in a dilution of the company’s equity interest in Chesir Luzhai from approximately 52.22% to 47.48%. Despite this dilution, Chesir Luzhai will remain a non-wholly owned subsidiary, and its financial results will continue to be consolidated in the company’s financial statements. The capital increase agreement, subject to certain conditions, is classified as a discloseable transaction under Hong Kong’s Listing Rules, indicating its importance and potential impact on the company’s financial structure and stakeholder interests.
More about Global New Material International Holdings Limited
Global New Material International Holdings Limited is a company incorporated in the Cayman Islands, focusing on the production and distribution of advanced materials. The company operates in the materials industry, with a particular emphasis on innovative materials and technologies.
Average Trading Volume: 2,789,073
Technical Sentiment Signal: Buy
Current Market Cap: HK$4.71B
Learn more about 6616 stock on TipRanks’ Stock Analysis page.